Then down come prices quite suddenly due to a small amount of surplus oil.
There is also the issue of surplus oil we have yet to use, said Investor Team member Jason Thomas, chief investment officer of Aspiriant.
This graph is consistent with a world surplus of oil in coming years.
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Siberia is ablaze with the surplus gas from oil wells just burning off into the sky, adding to Russia's pollution problem.
Inflation remains dormant at 2%, as raw materials and oil move into surplus.
But it was he who seized control when, after 1970, the EEC started sending its surplus milk powder and butter oil to India.
Russia still had a current-account surplus last year, but if oil prices continue their recent decline, the balance of payments will soon look less healthy and the need for foreign investment may become more urgent.
While the oil market is currently in surplus, and is forecast to remain so through next year, gasoline prices are still rising domestically, with California seeing prices hit an all-time high over the last few days.
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And while other states are floundering in the current economy, Alaska is sitting on a surplus, a surplus which is largely related to the increase in oil company revenue.
Inflation (annual average) jumped to 5.8% in 2008, due mostly to substantial global foods and oil prices increases, and the fiscal surplus (third year in a row) was 2.1% of GDP.
That is, a little bit too much oil gets people to shouting, "Surplus, surplus!"
Russia is currently running a fiscal surplus of slightly under 1% of GDP thanks to high oil prices.
That's odd, given that oil supplies are plentiful and there's a surplus of gasoline in the U.S., Ronn says.
The economists say that if oil tax delivers more than conservatively planned, that surplus should be put in a fund to handle future shocks.
The deficit ends four years when it could claim to be in surplus, on a modest scale, assuming a large share of oil revenue and not including capital spending.
Due to lags in the oil price transmission to export revenues (of up to three months), Barclays Russian analysts in Moscow say they expect oil prices to ad to a fairly big first quarter surplus for Russia.
High oil prices and a big devaluation in 1998 have generated a huge trade surplus.
The lagged effect of higher oil prices and yen strength will further reduce the Japanese current-account surplus and ultimately trigger a violent dollar rally against the yen.
The recession and low oil prices (not to mention the collapse of Enron) have swung the state from budget surplus to its largest-ever projected deficit.
Although Brazil enjoys a big overall trade surplus with China, most of its exports are of commodities (mainly iron ore, soya beans and crude oil).
Some of their oft-maligned reforms have come to fruition, ironically, under Mr Putin: helped by high oil prices, the economy is growing around 7% a year, the government budget is in surplus, inflation has been tamed and debt paid off.
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